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Impact on Cryptocurrency Market if Donald Trump Wins US Presidential Election
A recent poll conducted for the Financial Times and the University of Michigan’s Ross School of Business highlights American voters’ views on financial stability under potential presidential candidates. Nearly half of voters believe they will be better off if Donald Trump wins the presidential election.
Although Trump has shown strong support for Bitcoin (BTC) in the past, recognizing its potential as a strategic reserve asset for the United States.
Future of Cryptocurrency under Trump’s Leadership
According to a national survey carried out According to the Financial Times and the University of Michigan’s Ross School of Business, 45% of voters, including 40% of independents, believe they would be “a lot” or “somewhat” better off financially under Trump.
On the other hand, only 35% think they would be worse off. Despite strong economic data showing growth, low unemployment and falling inflation, current President Joe Biden has struggled to convince voters that his economic policies are effective.
Meanwhile, the recent assassination attempt on Trump during a campaign rally in Pennsylvania has added a layer of uncertainty to the political climate. Despite this, the incident has boosted Trump’s popularity, as indicated by an increase in his chances of winning the November election. 60% to 71% at Polymarketan Ethereum-based prediction market.
Trump’s Support for Bitcoin
Historically, Trump has showed strong support for Bitcoinseeing it as a potential strategic reserve asset for the United States. His favorable stance on Bitcoin could have significant implications for the cryptocurrency market if he wins the election.
Trump recently met with leaders bitcoin mining executives at his Mar-a-Lago estate, promising to champion bitcoin mining if elected. Additionally, his participation in the Bitcoin 2024 conference in Nashville from July 25 to 27 is expected to attract significant attention.
However, the failed attempt also led to a large increase Trump themed meme coins such as MAGA (TRUMP), TREMP and Maga hat (MAGA), reflecting the growing optimism among cryptocurrency investors.
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